By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Slovak Prime Minister warns that termination of Russian gas deal will have a greater impact on the EU than Moscow.
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle
TOD Partners with Skyworth’s QVWi to Launch 4K Streaming Set-Top Box in MENA
Gulf Sports
Double victory at Red Dot: Eczacıbaşı Tiles Group’s VitrA and Villeroy & Boch brands recognised for their design excellence
Lifestyle
Your Next Destination in Dubai: Mövenpick Hotel Apartments Downtown Dubai – The Perfect Choice for Your Stay
Gulf UAE
Nexus Developer Announces the Launch of ‘Estrella’ to Set New Standards in Boutique Luxury Living in Majan, Dubai
Gulf UAE
Moscow City Tourism Committee Brings ‘Moscow Tea Time’ to Dubai with 15 Cultural Venues
Gulf UAE
Wassim Elassaad Inspires Innovation at Gratuso and Waz & Co-Management Consultancy
Gulf UAE
RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain
Business Crypto
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > World > Slovak Prime Minister warns that termination of Russian gas deal will have a greater impact on the EU than Moscow.
World

Slovak Prime Minister warns that termination of Russian gas deal will have a greater impact on the EU than Moscow.

News Room
Last updated: 2025/01/05 at 7:46 AM
News Room
Share
4 Min Read
SHARE

Slovakia’s Prime Minister Robert Fico recently expressed concern over Ukraine’s decision to halt Russian gas transit to EU states through its pipelines. Fico warned that the termination of the gas transit deal between Kyiv and Moscow would have a “drastic impact” on the EU, rather than on Russia. The halt in Russian gas exports via Soviet-era pipelines through Ukraine came after Kyiv refused to renew a pre-war transit agreement with Gazprom. This decision had been in place for decades, and Slovakia had been urging Ukraine to renew the deal due to its reliance on cheap Russian gas. Fico argued that failure to do so would result in increased energy prices domestically and higher costs for the EU.

In a New Year’s Day address, Fico stated that halting gas transit through Ukraine would impact the EU significantly, estimating potential losses of €120 billion over the next two years. Slovakia itself stands to lose up to €500 million annually in transit fees due to the end of the gas deal. Fico, known for his Kremlin-friendly stance, had met with Russian President Vladimir Putin in Moscow to discuss gas supplies, among other issues. He had also threatened “reciprocal measures” against Ukraine after the termination of the gas agreement, including halting backup electricity supplies to the country. However, Kyiv dismissed the threat, and Poland offered to boost energy exports to Ukraine in case of such actions by Slovakia.

Despite the loss of Russian gas supply from Ukraine, Slovakia reassured the public that it will not face a gas shortage. The country had already taken steps to diversify its gas sources, signing short-term contracts to buy natural gas from Azerbaijan and importing US-sourced liquefied natural gas via Poland. Additionally, Slovakia has access to gas from Austria, Hungary, and the Czech Republic, allowing for imports from a variety of suppliers, including Germany. These measures put Slovakia in a position to weather the impact of the halted gas transit deal with minimal disruptions.

Fico’s concerns over the termination of the gas transit agreement highlight the potential implications for the EU as a whole. With Slovakia being just one of many countries reliant on Russian gas via Ukraine, the decision could lead to energy price hikes and supply disruptions across the bloc. The situation also underscores the complex geopolitical dynamics at play, with Ukraine, Russia, and EU member states navigating competing interests in the energy sector. As the fallout from the end of the gas deal continues to unfold, it remains to be seen how countries will adapt their energy policies and partnerships to mitigate the impact on their economies and citizens.

Moving forward, Slovakia and other EU member states will need to prioritize diversifying their energy sources and increasing energy security to reduce vulnerability to disruptions in gas transit. By expanding access to alternative energy suppliers and investing in renewable energy technologies, countries can mitigate the risks posed by reliance on a single source for their energy needs. Cooperation within the EU and with neighboring countries will also be crucial in ensuring a stable and sustainable energy supply chain that can withstand geopolitical challenges and fluctuations in global energy markets. As the energy landscape evolves, proactive measures will be essential to safeguarding the EU’s energy security and resilience in the face of unforeseen disruptions.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room January 5, 2025
Share this Article
Facebook Twitter Copy Link Print
Previous Article China suggests implementing export restrictions on important electric vehicle technology.
Next Article Famous Hollywood actors scheduled to standout at the Golden Globes
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports May 8, 2025
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle May 5, 2025
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle May 5, 2025
TOD Partners with Skyworth’s QVWi to Launch 4K Streaming Set-Top Box in MENA
Gulf Sports May 1, 2025

You Might also Like

World

KoçSistem Participates in LEAP Expo as a Leading Tech Brand from Türkiye

February 18, 2025
World

Gunmen murder three Israelis in attack on West Bank bus

January 6, 2025
World

Video: January 6th Midday Latest News Bulletin

January 6, 2025
World

Video: Latest Updates | January 6th Morning News Bulletin

January 6, 2025
World

Sarkozy to stand trial for alleged campaign funding from Gaddafi

January 6, 2025
World

German election 2025: Wer liegt in den Umfragen vorn?

January 6, 2025
World

Will the fears of 2024 materialize in 2025?

January 6, 2025
World

Oil spill in Kerch Strait leads to deaths of over 30 dolphins

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?